Report: UPS to Invest $1B in European Ops, Mostly Germany

Jul 08, 2014 10:17 AM  By

UPS plans to invest $1 billion in its European operations over the next three to five years, mostly related to its logistics centers and focused on Germany, according to an interview in a German newspaper with UPS Chief Financial Officer Kurt Kuehn.

Germany is one of UPS’ fastest-growing markets, Kuehn told the daily Sueddeutsche Zeitung, according to Reuters.

In an April call with analysts and investors, Kuehn noted that UPS International’s revenue was up 5% in Q1 to $3.1 billion, with Europe a primary driver of international export volume that grew by 7.7 percent. He also said that intra-European export demand for UPS products increased by more than 15%.

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